Bambu, a Singapore-based global digital wealth technology provider for financial institutions, announced today that the company has acquired Tardesocio, an investment management and trading technologies specialist.
According to the official press release, Bambu is planning to accelerate its global growth through the recent acquisition of Tradesocio. The latest acquisition will enable Bambu to expand its digital wealth capabilities.
Bambu highlighted that it is planning to acquire more companies in the future to strengthen its position in the digital wealth industry. Founded in 2016, Bambu is currently serving more than 20 financial institutions around the world.
Commenting on the latest acquisition, Ned Phillips, CEO of Bambu, said: “After five years of building solid foundations, Bambu is now entering a phase of rapid growth. This deal helps us in three key areas: it expands our product offering into stocks and crypto, it gives us a wider global footprint, and enables us to scale our team effectively to match exponential demand. We believe this positions us well for our Series C and ambitions of becoming the global leader in WealthTech.”
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Tradesocio is a WealthTech company with offices in Dubai, Singapore and India. The company has 65 employees.
Bambu mentioned that it will be able to take advantage of Tradesocio’s strong presence in EMEA and India. The company aims to expand its global reach in different regions, including Asia and the Middle East. “Bambu will have a presence in all major financial hubs and expanded digital wealth capabilities covering stock trading and cryptocurrencies. The acquisition puts Bambu in a unique position that will provide customers greater agency through broader system capabilities that go beyond the offerings of existing Robo advisor platforms. In addition, Tradesocio’s presence across EMEA and India, along with an existing portfolio of clients, is set to further Bambu’s reach in a rapidly expanding and evolving global digital wealth market,” the company added.
In April 2020, Advanced Markets announced a partnership with Tradesocio to distribute liquidity.